Topic: What Is Bitcoin? - page 6. (Read 5051 times)
Bitcoin can be understood in many ways to include the different version of definitions from wikipedia to several dictionaries available online. But I think for a beginner it would be so hard to understand what it really means especially when such person doesn't even know much about computers. So I'd like to suggest that the definition should be the simplest way possible. How about this "the equivalent of the paper money that is used to buy products or pay services online" which is because of course we cannot send the actual paper money online. Or any simpler means? Maybe anybody can add.
in my own opinion.,bitcoin is the way to invest money and to earn money.,
Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.
For me, Bitcoin is a payment system having more benefits as compared to that of traditional fiat system. I was using popular international money transfer service but it was charging me excess amount in terms of fees/exchange rates etc but when I shifted my (income) payments, I have noticed significant savings in the cost of transfer so for me it is a better payment system.
But i think that doesn't mean it will continue to be more benefit, because considering the price is easily changes, so sometimes transaction costs would be highly in a certain time.
Bitcoin is a secure and safe way for you to send money to anyone anywhere in the world for the cost of a few pennies, instantly.
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
For me, Bitcoin is a payment system having more benefits as compared to that of traditional fiat system. I was using popular international money transfer service but it was charging me excess amount in terms of fees/exchange rates etc but when I shifted my (income) payments, I have noticed significant savings in the cost of transfer so for me it is a better payment system.
Bitcoin is a cryptocurrency and worldwide payment system. It is the decentralized digital currency, as the system works with out a central bank. The most advance cryptocurrency exchange. That can be used for online transactions between individuals.
In my opinion,BITCOIN is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
bitcoin is a digittal asset that is used as a tool (payment system) but along with the growing script and emerging new coins that are released after the success of bitcoin. and bitcoin began to trade .. because the price is skyrocketing ,, many new rich people who succeed through the trade bitcoin 
For me Bitcoin is the largest cryptocurrency that has a chance to change our future it can be our second currency in the future. And will change our perspective on online transactions.
What about paypal and perpect money both using the internet.(online)I would rather say that Bitcoin is a decentralized, free currency without the other's role.
Everyone has the right to access their transactions data.
In my opinion,BITCOIN is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
For me Bitcoin is the largest cryptocurrency that has a chance to change our future it can be our second currency in the future. And will change our perspective on online transactions.
I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.
For example, I will start with the obvious: Bitcoin is internet money
Is this a perfect explanation? Of course not. This is where you come in.
Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.
The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.
Make sense?
So I will repeat the starting point: Bitcoin is internet money
We all give different definitions on what bitcoin is, it usually depends on how it gives us benefits. We are all aware that bitcoin is the most popular cryptocurrency and it is the very first one. To give a clearer explanation, bitcoin is a cryptocurrency or a digital coin that has great features like having global payment, fast transactions and being decentralized and it is one of the reason why it is very popular. For example, I will start with the obvious: Bitcoin is internet money
Is this a perfect explanation? Of course not. This is where you come in.
Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.
The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.
Make sense?
So I will repeat the starting point: Bitcoin is internet money
I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.
For example, I will start with the obvious: Bitcoin is internet money
Is this a perfect explanation? Of course not. This is where you come in.
Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.
The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.
Make sense?
So I will repeat the starting point: Bitcoin is internet money
For example, I will start with the obvious: Bitcoin is internet money
Is this a perfect explanation? Of course not. This is where you come in.
Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.
The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.
Make sense?
So I will repeat the starting point: Bitcoin is internet money
Bitcoin is a digital currency and you can use this coins to buy goods and products online. Bitcoin is also good for long term invest and why ?, the market is volatile and we never knew when will be the pump or dump of each coins so most of the traders are reading different news and articles in order to make a good decision when they will get more profit.
Bitcoin is a digital currency and the future of payment system
Bitcoin is a digital currency that has grown almost 8 times! On which you can earn and work well in life
Bitcoin is a type of currency that is traded through cryptographic protocols. It does not have any organization for transaction control. This is a complete open source project. Satoshi Nakamoto, a gentleman who discovered this coin in 2008. He called this currency as peer-to-peer. All types of transactions are stored in the name of Bitcoin Miner. When it is transmitted from any computer, the data on its central server is automatically updated. Now its popularity has increased greatly.
Bitcoin is a virtual currency not unlike any other coin you might have come across while playing online games, except the technology is much stronger.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.
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